List of illustrations ix
List of tables x
List of contributors xiii
Introduction xv
1 The economy in the fifteenth century: preconditions for
European expansion 1
PAOLO MASSA
An integrated economic system: Europe in the fifteenth century 1
The supply of and demand for goods: agricultural and manufactured goods 7
Work organization and techniques 14
Geographical and economic expansion 19
2 European expansion in the sixteenth century 26
GIUSEPPE BRACCO
Population 26
Agriculture 30
Anticipating the new science 33
International exchanges 37
Finance 40
Different roles in Europe 43
3 European expansion in the seventeenth century 54
ALBERTO GUENZI
General trends 54
Demography: crisis and recovery 54
Agriculture and land ownership 58
Cities, manufacturing, commerce and finance 62
New powers 67
Mercantilism and the formation of the modern state 67
Holland 68
France 75
England 82
An overall view 89
4 The European economies in the eighteenth century 92
JOHN A. DAVIS
New perspectives on economic modernization and Europe’s many paths to
the twentieth century 92
European economic development in the eighteenth century: the central themes 96
Agrarian Europe, 1700–1800 100
The enigma of the eighteenth century: the demographic revolution 106
The growth of trade 108
Industries and manufactures 114
The role of the state 125
The Napoleonic era 129
5 The economic development of Europe in the nineteenth
century (I): growth and transformation of the economy 135
GIOVANNI LUIGI FONTANA
A century of continuous growth 135
Economic growth and national accounts 137
Structural changes 138
Rates, phases and models of growth: theories and interpretations 140
6 The economic development of Europe in the nineteenth
century (II): demographic dynamics and social change;
the role of agriculture 154
GIOVANNI LUIGI FONTANA
The European demographic revolution 154
The ‘new demographic model’ 158
Urbanization, migration and colonization 162
Changes in the agricultural sector 168
7 The economic development of Europe in the nineteenth
century (III): the process of industrialization 176
GIOVANNI LUIGI FONTANA
Great Britain and continental Europe 176
The age of machines, coal and steam 179
vi Contents
The ‘second industrial revolution’: the Age of Steel, Chemicals and Electricity 186
Agents of industrialization 189
National pathways 195
The economic development of Europe in the nineteenth
century (IV): the revolution in transport and
communications 208
GIOVANNI LUIGI FONTANA
Roads and canals 208
The advent and development of the railways 210
Maritime transport 215
The economic consequences 217
The telegraph and the globalization of information 219
The economic development of Europe in the nineteenth
century (V): international exchanges and monetary systems 222
GIOVANNI LUIGI FONTANA
Europe and the world economy 222
The triumph of free trade and the development of international trade 223
Return to protectionism 226
Colonialism 228
The international economy 229
The balance of payments and the gold standard 234
The twentieth century – from break with the past to
prosperity (I): growth and transformation of the economy 239
ALBERT CARRERAS
Introduction to Chapters 10–12: the starting point 239
Century-long growth 240
The demographic evolution 241
Economic potential 245
Per capita income 247
Societies with a high level of consumption 249
The driving role of technological progress 254
Structural change: the decline of agriculture 258
Structural change: industrialization and deindustrialization 261
Inter-industrial composition: from textiles to electronics 263
The rise of large-scale enterprise 265
Diversification of services 269
National growth models 271
Contents vii
11 The twentieth century – from break with the past to
prosperity (II): the great stages 289
ALBERT CARRERAS
Fluctuations in the economy 289
The Great War and tentative peace 293
The ‘roaring twenties’ and the crisis of the 1930s 296
The Second World War and plans for the new international economic order 304
Preparing for reconstruction 307
Post-war reconstruction, division into blocs and regional integration 309
The emergence of the Third World; the Golden Age 314
Oil crises, stagflation and challenges from outside Europe 320
Fall of the Soviet bloc, resumption of European integration and globalization 325
Globalization 332
12 The twentieth century – from break with the past to
prosperity (III): economic and social policies 335
ALBERT CARRERAS
Property rights policies 335
State interventionism 339
Expenditure policies 341
Trade policies 345
Stabilization policies 347
Co-operation policies 351
Bibliography 354
Index 366
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